New CEO announced for consumer products giant

Jonathan Myers

PZ Cussons, the Manchester-based consumer products group, announced today that Jonathan Myers will join the board as chief executive on May 1.

It follows the retirement of former CEO Alex Kanellis on January 31, 2020.

The group said Jonathan is an experienced FMCG executive, having worked for a number of well-known businesses across a range of categories including personal care, homecare and food and nutrition.

He joins from Avon Products, a multi-level marketing company in beauty, household and personal care categories with around $5.5bn of annual sales, where he has been chief operating officer since 2017.

With global responsibility for supply chain, marketing, digital, research & development and IT, he was a core member of the executive team delivering a successful turnaround of the business.

He spent the first 21 years of his career at Procter & Gamble, where he worked across a range of categories and had extensive experience in Asia, South America and beyond.

At Procter & Gamble he progressed to general manager, oral care and feminine care for the Greater China Region, before he moved to Kellogg Company, the US multinational food manufacturing group, where he held a number of senior leadership positions, serving as managing director, UK and Ireland from 2012 and then also vice president, European markets from 2014.

Caroline Silver will continue to serve as executive chair until Jonathan joins the business.

Ms Silver said: “Jonathan is an excellent appointment for the company as our new CEO.

“His wealth of experience in our product categories and of doing business in both developed and developing markets will be invaluable.

“In addition, Jonathan’s track record of successful business turnarounds will serve us well as we continue to deliver on the company’s strategy of focus, scale and accelerate.”

Jonathan Myers said: “This is an exciting time to be joining PZ Cussons and taking the business forward as its new CEO.

“It is a company with a rich heritage but with an equally bright future, driven by a portfolio of some of the world’s best-loved brands.

“I look forward to working with Caroline, the wider executive team and every member of the PZ Cussons family to create that bright future.”

The company also announced the appointment of Jeremy Townsend as a non-executive director from April 1.

Jeremy is currently chief financial officer of Rentokil Initial but is due to retire later this year.

An experienced FTSE100 finance director, he was previously group finance Director of Mitchells & Butlers and held senior finance positions at Sainsbury’s after starting his career with Ernst & Young.

He is also a former Accounting Council Member of the Financial Reporting Council.

Since 2017, he has been a non-executive director and chair of the audit committee for Galliford Try. On appointment, Jeremy will join the audit & risk committee.

Jez Maiden, who has served the board as a non-executive director since 2016, has advised the company of his intention to step down on May 31, 2020. He will be succeeded as chair of the audit & risk committee by Jeremy Townsend.

Caroline Silver said: “We are pleased to welcome Jeremy Townsend to the board.

“He has been part of a highly-successful executive team at Rentokil Initial and is also an experienced non-executive director and audit chair.

“His appointment will further strengthen the board and he will be an able replacement for Jez Maiden as chair of the audit & risk committee when he retires later this year.

“I would also like to thank Jez for his years of service to the board and for the significant contribution which he has made to the effective operation of the audit & risk committee.”

Today’s announcement follows the proposed sale of the group’s Nigerian dairy business Nutricima and completion of the previously announced sale of its Polish personal care brand Luksja.

PZ Cussons has exchanged contracts for the sale of the assets associated with Nutricima’s business to FrieslandCampina WAMCO Nigeria Plc, an affiliate of Royal FrieslandCampina in the Netherlands.

Under Nigerian law, completion of the transaction is subject to merger clearance in Nigeria.

In addition, PZ Cussons has completed the sale of its Polish personal care brand, Luksja, to Athens-based personal care company, Sarantis Group.

Sarantis will also distribute certain PZ Cussons’ brands – which include Carex, Original Source and Morning Fresh – in Poland and Central and Eastern Europe.

Caroline Silver said: “The proposed sale of Nutricima and the sale of Luksja are further steps forward under our ‘focus, scale and accelerate’ strategy, as we continue to streamline the group to focus investment on core personal care and beauty brands.

“This will enable us to deliver higher margin earnings, in geographies which can scale, and support the return of the group to sustainable, profitable growth.”

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